Technology companies push markets higher

European stocks extended gains on Tuesday and U.S. futures pointed to a higher open as traders tried to keep the recent risk-on mood going. Amid trade headlines and political risks some caution was on show, however, and Treasuries gained while Italian bonds fell.

After a shaky start the Stoxx Europe 600 Index advanced for a third day as technology companies and automakers led the way. U.S. futures also turned higher following the S&P 500’s highest finish since mid-March. Treasury yields slipped for the first time in five days, while those of Italian bonds were poised for the first increase since they blew up a week ago.

Elsewhere, West Texas oil gave up a gain to trade back below $65 a barrel after an OPEC committee stressed the need to ensure supplies can meet growing demand, adding to speculation the group will phase out its production cuts.

The Stoxx Europe 600 Index climbed 0.3 percent as of 11:07 a.m. London time, the highest in more than a week. Futures on the S&P 500 Index advanced 0.2 percent to the highest in more than 11 weeks. The U.K.’s FTSE 100 Index fell 0.5 percent, the largest fall in a week. Germany’s DAX Index climbed 1 percent to the highest in more than a week on the biggest increase in more than four weeks. The MSCI Emerging Market Index gained 0.1 percent to the highest in almost three weeks. The MSCI Asia Pacific Index increased less than 0.05 percent to the highest in almost three weeks.

West Texas Intermediate crude declined 0.3 percent to $64.57 a barrel, the lowest in eight weeks. Gold increased less than 0.05 percent to $1,292.10 an ounce. Brent crude fell 1.2 percent to $74.36 a barrel, the lowest in more than a month. This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.